HFC, for example, an industrial gas, has 11, 000 times the greenhouse effect of CO2.
What's more, China now levies a 65% tax on HFC-derived credits, further distorting the market.
Below is a long-term dividend history chart for HFC, which Dividend Channel stressed as being of key importance.
FORBES: HFC Added as Top 10 Energy Dividend Stock With 1.48% Yield
Below is a three month price history chart comparing the stock performance of SUN, versus NS and HFC.
The report noted that among energy companies, HFC shares displayed both attractive valuation metrics and strong profitability metrics.
FORBES: HFC Added as Top 10 Energy Dividend Stock With 1.48% Yield
Below is a three month price history chart comparing the stock performance of COP, versus SUN and HFC.
Trading apples for oranges in this case, HFC for CO2 undermines the purpose of the credit-trading scheme: to encourage emissions reductions at the lowest marginal cost.
Over the past year, Valero is up 63%, HollyFrontier Corporation (NYSE:HFC) is up 49%, Tesoro Corporation (NYSE:TSO) is up 103%, and Marathon Petroleum Corporation (NYSE:MPC) is up 93%.
The same is not true for, say, HFC-134a, a gas with various industrial uses that delivers more than 1, 000 times more warming than carbon dioxide, mass for mass.
Oil service stocks of interest are HAL, BHI, SLB, NOV, RIG, CAM, NBR, WFT, RDC, DO, and TDW. Refiners of interest are VLO, TSO, WNR, HFC, and MPC.
Among the largest underlying components of XOP, in trading today Western Refining Incorporated ( WNR) is up about 0.6%, and Hollyfrontier Corporation ( HFC) is lower by about 0.7%.
According to the ETF Finder at ETF Channel, HFC makes up 3.56% of the First Trust Energy AlphaDEX Fund ETF ( AMEX: FXN )which is trading higher by about 2.6% on the day Wednesday.
Among the largest underlying components of IJK, in trading today HollyFrontier Corp. ( NYSE: HFC) is up about 1.1%, AMETEK, Inc. ( NYSE: AME) is off about 0.8%, and PVH Corp ( NYSE: PVH) is up by about 0.2%.
Among the largest underlying components of IJK, in trading today HollyFrontier Corp. ( NYSE: HFC) is off about 1.6%, AMETEK, Inc. ( NYSE: AME) is up about 0.6%, and PVH Corp ( NYSE: PVH) is up by about 0.8%.
Among the largest underlying components of IJH, in trading today Regeneron Pharmaceuticals, Inc. ( NASD: REGN) is up about 0.7%, HollyFrontier Corp. ( NYSE: HFC) is up about 0.3%, and AMETEK, Inc. ( NYSE: AME) is up by about 0.5%.
Among the largest underlying components of IJK, in trading today Regeneron Pharmaceuticals, Inc. ( NASD: REGN) is down about 5.4%, Equinix Inc ( NASD: EQIX) is down about 1.2%, and HollyFrontier Corp. ( NYSE: HFC) is up by about 1%.
FORBES: iShares S&P MidCap 400 Growth Index Fund Experiences Big Outflow
Among the largest underlying components of IJH, in trading today Regeneron Pharmaceuticals, Inc. ( NASD: REGN) is up about 0.2%, HollyFrontier Corp. ( NYSE: HFC) is up about 0.7%, and AMETEK, Inc. ( NYSE: AME) is lower by about 0.3%.
Among the largest underlying components of IJH, in trading today Regeneron Pharmaceuticals, Inc. ( NASD: REGN) is off about 0.8%, HollyFrontier Corp. ( NYSE: HFC) is down about 2%, and Equinix Inc ( NASD: EQIX) is up by about 0.1%.
FORBES: IJH, REGN, HFC, EQIX: Large Outflows Detected at ETF
Among the largest underlying components of FXN, in trading today HollyFrontier Corp. ( NYSE: HFC) is up about 0.5%, Sunoco, Inc. ( NYSE: SUN) is down about 0.1%, and Newfield Exploration Co. ( NYSE: NFX) is lower by about 1.7%.
Among the largest underlying components of IJH, in trading today Regeneron Pharmaceuticals, Inc. ( NASD: REGN) is up about 0.6%, HollyFrontier Corp. ( NYSE: HFC) is up about 0.6%, and Equinix Inc ( NASD: EQIX) is lower by about 0.6%.
Among the largest underlying components of MDY, in trading today Kansas City Southern ( NYSE: KSU) is off about 0.6%, Hansen Natural Corporation ( NASD: HANS) is down about 1.7%, and HollyFrontier Corporation ( NYSE: HFC) is lower by about 0.5%.
But in the meantime, there is evidence that factories are ramping up production of HFC-22 in order to boost emissions of HFC-23, so that they can make windfall profits from cutting back on HFC-23 later and selling the emission-reduction credits, says Michael Wara of Stanford University.
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